All practice questions

In tomato plants (*Solanum lycopersicum*), red fruit color ($R$) is dominant over yellow fruit color ($r$), and tall stem height ($T$) is dominant over dwarf stem height ($t$). A geneticist crosses two heterozygous tall, red-fruited tomato plants ($RrTt \times RrTt$). If this dihybrid cross yields a total of $1,600$ offspring in the $F_2$ generation, how many plants are expected to exhibit both yellow fruit and dwarf stems?

An ecologist conducted a mark-release-recapture study to estimate the population size of fiddler crabs (*Uca tangeri*) in a mangrove swamp along the Bonny Estuary in Rivers State. During the first sampling session, $150$ crabs were captured, marked with non-toxic waterproof paint, and released back into the habitat. One week later, a second sample of $120$ crabs was captured from the same area, of which $40$ were found to be marked. What is the estimated total population size of fiddler crabs in this sampled area?

An astronaut has a weight of $720\text{ N}$ on the surface of the Earth. Calculate the weight of the astronaut, in Newtons ($\text{N}$), at an altitude equal to twice the radius of the Earth ($h = 2R$).

The following national income figures are recorded for an economy in a given year:

- Gross Domestic Product at market prices ($GDP_{mp}$): $\$1,420$ billion
- Factor income received by domestic residents from abroad: $\$95$ billion
- Factor income paid to foreign residents within the domestic economy: $\$140$ billion
- Capital Consumption Allowance (Depreciation): $\$105$ billion
- Indirect taxes: $\$115$ billion
- Subsidies: $\$30$ billion

What is the Net National Product at factor cost ($NNP_{fc}$) of this economy in billions of dollars?

An economy records a Gross Domestic Product (GDP) of $\text{N}620\text{ million}$. If the Net Factor Income from Abroad (NFIA) is $\text{N}45\text{ million}$, what is the value of the Gross National Product (GNP) in million Naira?

A government compiled the following financial receipts at the end of a fiscal year:

- Companies Income Tax: $\text{₦}180\text{ billion}$
- Value Added Tax: $\text{₦}140\text{ billion}$
- Mining Royalties: $\text{₦}65\text{ billion}$
- Passport and Drivers' License Fees: $\text{₦}15\text{ billion}$
- Fines and Court Forfeitures: $\text{₦}10\text{ billion}$
- Foreign Loans and Bilateral Grants: $\text{₦}100\text{ billion}$

Based on these figures, calculate the total non-tax revenue (excluding capital receipts) generated by the government in $\text{₦}\text{ billion}$.

An economy records a Gross National Product at market prices ($\text{GNP}_{mp}$) of $\text{N}950\text{ million}$. If the capital consumption allowance is $\text{N}85\text{ million}$, indirect taxes are $\text{N}60\text{ million}$, and subsidies are $\text{N}15\text{ million}$, what is the value of the Net National Product at factor cost ($\text{NNP}_{fc}$) in millions of Naira?

In a fiscal quarter, a local government authority in Nigeria collected the following receipts:
- Market stall fees: $\text{₦}12\text{ million}$
- Tenement rates (property tax): $\text{₦}35\text{ million}$
- Fines and penalties: $\text{₦}8\text{ million}$
- Motor park fees: $\text{₦}10\text{ million}$

What is the total non-tax revenue collected by the local government authority in millions of Naira ($\text{₦}$)?

An agro-processing enterprise operates in the short run with a fixed processing plant and variable labor ($L$). When $3$ units of labor are employed, the average product ($AP$) of labor is $21\text{ units}$. Adding a $4\text{th}$ unit of labor yields a marginal product ($MP$) of $25\text{ units}$. When a $5\text{th}$ unit of labor is hired, the average product ($AP$) declines to $21\text{ units}$. Finally, employing a $6\text{th}$ unit of labor results in a total product ($TP$) of $114\text{ units}$. What is the marginal product ($MP$) of the $6\text{th}$ unit of labor?

The table below shows the input requirement in labor-hours to produce one unit of Cassava and one unit of Rubber in Country X and Country Y:

Based on David Ricardo's theory of comparative advantage, what is the maximum number of units of Cassava that Country X would be willing to pay to import $1$ unit of Rubber from Country Y?

A consumer derives a total utility ($TU$) of $50$ utils from consuming $4$ oranges. Upon consuming a $5^{\text{th}}$ orange, total utility increases to $62$ utils. What is the marginal utility ($MU$) derived from consuming the $5^{\text{th}}$ orange in utils?

A farmer operating on a fixed piece of farmland can cultivate either yam or cassava according to the following production schedule:

If the farmer changes production from Option Q to Option R, what is the opportunity cost of producing the additional 15 bags of cassava, expressed in bags of yam foregone?

During a field study on population dynamics in a secondary forest plot in Ogun State, $80$ African giant land snails (*Archachatina marginata*) were captured, tagged, and released back into their habitat. A fortnight later, a second sample of $50$ snails was collected, revealing that $16$ of them bore the original tags. What is the estimated total population size of these snails in the forest plot using the Lincoln Index?

A sole proprietor in Lagos receives a total Personal Income of $\text{₦680 million}$ during a given fiscal period. If direct personal income taxes paid to the government equal $\text{₦115 million}$, what is the trader's disposable income in millions of Naira?

An economy operates along a linear-segmented Production Possibility Curve with full employment of resources, producing only Solar Panels ($S$) and Wind Turbines ($T$). Its production schedule is given in the table below:

If the society decides to reallocate its scarce resources to increase the output of Wind Turbines from $10$ units to $30$ units, what is the average opportunity cost per unit of Wind Turbine gained, expressed in terms of Solar Panels foregone?

An economy operating on its Production Possibility Curve produces two goods: Rice (in tonnes) and Tractors (in units). Currently, it produces $40$ tractors and $100$ tonnes of rice. When resources are reallocated to increase tractor production to $50$ units, rice production falls to $70$ tonnes. What is the opportunity cost of producing one additional tractor, expressed in tonnes of rice?

In a given fiscal year, the national accounts of a nation reveal the following expenditure figures: Personal consumption spending ($C$) is $\$400$ billion, gross private domestic investment ($I$) is $\$150$ billion, government expenditures ($G$) total $\$120$ billion, exports ($X$) stand at $\$80$ billion, and imports ($M$) are $\$50$ billion. Calculate the Gross Domestic Product (GDP) of the nation in billions of dollars using the expenditure approach.

The following macroeconomic national income data are provided for a country in a given financial year (in millions of Naira):

Using the expenditure approach, calculate the Net National Product at factor cost ($NNP_{fc}$) in millions of Naira.

An economy's production possibility frontier for agricultural produce ($A$) and manufactured capital ($M$) is represented by the non-linear equation $A^2 + 4M^2 = 400$, where both $A$ and $M$ are measured in thousands of units. If the economy is currently operating efficiently by producing 12 thousand units of agricultural produce, what is the opportunity cost (in thousands of units) of manufactured capital sacrificed if agricultural output is increased to 16 thousand units?

A commercial town has a total money supply ($M$) of ₦2,000 with a velocity of circulation ($V$) of $4$. If the physical volume of transactions ($T$) in the town is $400$ units, what is the general price level ($P$) based on Fisher's Quantity Theory of Money equation ($MV = PT$)?